Quality Control Coordinator - New Jersey Housing and Mortgage Finance Agency
Trenton, NJ
About the Job
Quality Control Coordinator
Location Trenton, NJ
Job Code 739
Apply Now (https://phh.tbe.taleo.net/phh03/ats/careers/v2/applyRequisition?org=NEWJERSH2&cws=40&rid=739)
NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Quality Control Coordinator
Salary Range: 11
Division: Compliance
FL Status: Exempt
Issue Date: 10/8/24
Closing Date: 11/26/24
Union Status: Professional Bargaining Unit, Exempt
Employment Status: Full time
JOB DESCRIPTION
Under the supervision of the Quality Control Manager, perform quality control and compliance of all loan documents, disclosures and re-underwriting; monitor mortgage loans for compliance with applicable laws and regulations. Reverify information on loans that may have gone into default. Audit the Agency as servicer and any third-party services to determine compliance with all applicable State and/or Federal servicing laws, regulations, guidelines, servicing contracts and the requirements of all applicable insurers and/or guarantors of the loans; Perform related duties as assigned.
JOB RESPONSIBILITIES
+ Perform post-closing quality control reviews of all loan documents, disclosures and re-underwriting of mortgage loan applications. If the applicable authority does not set a baseline amount review at least 10% or one loan, per program, whichever is greater per month. Complete the daily minimum required files based on business needs per day.
+ Review all loans that may have defaulted within the first 12 months, identify the reasons and advise the Quality Control Manager.
+ Compliance review of all loan documents, including but not limited to disclosures, full re-verification of loan underwriting and borrower income, employment, credit, assets and debt. Order new appraisals and new credit reports.
+ Perform audits of all residential loan files selected for discretionary, target, and random audits promptly. The audit is conducted post-purchase ensuring the loan meets the FNMA, FHLMC, FHA, VA, USDA, Investor and NJHMFA guideline requirements.
+ Validate cures and review responses from responsible parties.
+ Perform post-closing audits including re-underwriting mortgage loan files for consistency and compliance to ensure loans are within agency, investor, and internal guidelines and under AUS findings or manual loan approvals.
+ Utilization of advanced risk assessment techniques for identifying potential fraud, misrepresentation or compliance violations. Make sure prevention and /or misrepresentation issues are addressed, cleared and escalated if needed.
+ Uphold proficiency in loan policies, products, procedure manuals, and investor guidelines (FNMA, FHLMC, VA, FHA, Jumbo) and other correspondent investors.
+ Staying abreast with mortgage lending regulations, compliance changes and industry trends.
MINIMUM REQUIREMENTS
Education / Experience:
Range 11 (Quality Control Coordinator I) Two (2) year college degree; two (2) years of related mortgage quality assurance audit experience, three (3) years of mortgage underwriting, or an equivalent combination of education and experience that meets the required knowledge, skills and abilities.
Skills:
+ Knowledge of applicable State and Federal laws, rules, regulations, guidelines, and official guidance empowering the Agency or regulating its products or practices as a lender/purchaser of loans.
+ Knowledge of FHA, Veterans Administration, USDA, Ginnie Mae, Fannie Mae, and conventional mortgage loan guidelines.
+ Ability to communicate with all levels of Agency management, peers and colleagues, and affiliates effectively, orally and in writing.
+ Ability to write clear, concise and supported audit/compliance reports.
+ Ability to accomplish multiple tasks simultaneously.
+ Ability to maintain a positive work atmosphere in an appropriate manner of behavior which ensures cooperation and effective communication with customers, clients, peers and management.
Physical Demands: Non-physical
Working Conditions: Gene ral office environment
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
- Medical, prescription, dental, vision & long term disability
- FSA & HSA
- Public Service Loan Forgiveness and Tuition Reimbursement
- Public Employees' Retirement System (PERS)
- Deferred compensation plans
- Employee assistance services (EAS)
- State employee discounts program
- Paid personal, sick and vacation days
- Paid holidays
- Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
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Location Trenton, NJ
Job Code 739
Apply Now (https://phh.tbe.taleo.net/phh03/ats/careers/v2/applyRequisition?org=NEWJERSH2&cws=40&rid=739)
NOTICE OF VACANCY
THE EXECUTIVE DIRECTOR OF THE NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY INVITES APPLICATIONS FROM QUALIFIED CANDIDATES FOR THE FOLLOWING:
Job Title: Quality Control Coordinator
Salary Range: 11
Division: Compliance
FL Status: Exempt
Issue Date: 10/8/24
Closing Date: 11/26/24
Union Status: Professional Bargaining Unit, Exempt
Employment Status: Full time
JOB DESCRIPTION
Under the supervision of the Quality Control Manager, perform quality control and compliance of all loan documents, disclosures and re-underwriting; monitor mortgage loans for compliance with applicable laws and regulations. Reverify information on loans that may have gone into default. Audit the Agency as servicer and any third-party services to determine compliance with all applicable State and/or Federal servicing laws, regulations, guidelines, servicing contracts and the requirements of all applicable insurers and/or guarantors of the loans; Perform related duties as assigned.
JOB RESPONSIBILITIES
+ Perform post-closing quality control reviews of all loan documents, disclosures and re-underwriting of mortgage loan applications. If the applicable authority does not set a baseline amount review at least 10% or one loan, per program, whichever is greater per month. Complete the daily minimum required files based on business needs per day.
+ Review all loans that may have defaulted within the first 12 months, identify the reasons and advise the Quality Control Manager.
+ Compliance review of all loan documents, including but not limited to disclosures, full re-verification of loan underwriting and borrower income, employment, credit, assets and debt. Order new appraisals and new credit reports.
+ Perform audits of all residential loan files selected for discretionary, target, and random audits promptly. The audit is conducted post-purchase ensuring the loan meets the FNMA, FHLMC, FHA, VA, USDA, Investor and NJHMFA guideline requirements.
+ Validate cures and review responses from responsible parties.
+ Perform post-closing audits including re-underwriting mortgage loan files for consistency and compliance to ensure loans are within agency, investor, and internal guidelines and under AUS findings or manual loan approvals.
+ Utilization of advanced risk assessment techniques for identifying potential fraud, misrepresentation or compliance violations. Make sure prevention and /or misrepresentation issues are addressed, cleared and escalated if needed.
+ Uphold proficiency in loan policies, products, procedure manuals, and investor guidelines (FNMA, FHLMC, VA, FHA, Jumbo) and other correspondent investors.
+ Staying abreast with mortgage lending regulations, compliance changes and industry trends.
MINIMUM REQUIREMENTS
Education / Experience:
Range 11 (Quality Control Coordinator I) Two (2) year college degree; two (2) years of related mortgage quality assurance audit experience, three (3) years of mortgage underwriting, or an equivalent combination of education and experience that meets the required knowledge, skills and abilities.
Skills:
+ Knowledge of applicable State and Federal laws, rules, regulations, guidelines, and official guidance empowering the Agency or regulating its products or practices as a lender/purchaser of loans.
+ Knowledge of FHA, Veterans Administration, USDA, Ginnie Mae, Fannie Mae, and conventional mortgage loan guidelines.
+ Ability to communicate with all levels of Agency management, peers and colleagues, and affiliates effectively, orally and in writing.
+ Ability to write clear, concise and supported audit/compliance reports.
+ Ability to accomplish multiple tasks simultaneously.
+ Ability to maintain a positive work atmosphere in an appropriate manner of behavior which ensures cooperation and effective communication with customers, clients, peers and management.
Physical Demands: Non-physical
Working Conditions: Gene ral office environment
BENEFITS
NJHMFA provides a comprehensive benefit package which includes:
- Medical, prescription, dental, vision & long term disability
- FSA & HSA
- Public Service Loan Forgiveness and Tuition Reimbursement
- Public Employees' Retirement System (PERS)
- Deferred compensation plans
- Employee assistance services (EAS)
- State employee discounts program
- Paid personal, sick and vacation days
- Paid holidays
- Partial Telework
Residency in the State of New Jersey is required of all employees with an agency of the State in accordance with the New Jersey First Act, N.J.S.A. 52:14-7 (L. 2011, Chapter 70). Employees must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources.
The NJHMFA is an Equal Opportunity Employer in compliance with all Federal, State and Local Regulations. NJHMFA provides equal employment opportunity to both individuals with veteran status and individuals with disabilities.
Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.
Back (https://phh.tbe.taleo.net/phh03/ats/careers/v2/searchResults?org=NEWJERSH2&cws=40) Share
Source : New Jersey Housing and Mortgage Finance Agency